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Myanmar Metals Ltd.
Summary
| Project: | Bawdwin | |
|---|---|---|
| Deposit: | Bawdwin | |
| Location: | Myanmar | |
| Commodities: | Lead-Zinc-Silver-Copper-Cobalt-Nickel | |
| Date: | 9/20/2018 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 20-9-2018: Myanmar Metals Ltd. announces a Scoping Study report for its Bawdwin deposit at the Bawdwin project. Amended previous Scoping study to include additional economic forecast information. The Scoping Study referred to in this announcement has been | |
| Resources: | (Resource, I+I): 81.797Mt @ 4.8% Pb, 2.4% Zn, 0.24% Cu, 119ppm Ag | |
| CP/QP: | [Resources]: Serikjan Urbisinov (CSA Global Pty Ltd.) | |
| ABSTRACT: | The Scoping Study referred to in this announcement has been undertaken to determine the potential viability of an open-pit mine with a conventional milling and flotation circuit to produce multiple metal concentrates. The operating parameters and economic estimates detailed in the Scoping Study are representative of a 100% interest in the Bawdwin Project. Myanmar Metals Limited (“MYL” or “the Company”) has a 51% participating interest in the Bawdwin Project, held through a contractual joint venture (“Bawdwin JV”). The Scoping Study is a preliminary technical and economic study based on low level technical and economic assessments (+/- 35% accuracy) that are not sufficient to support the estimation of Ore Reserves. Further evaluation work and appropriate studies are required before MYL will be able to estimate any Ore Reserves or provide any assurance of an economic development. The JORC-compliant Mineral Resource estimate announced on 2 July 2018 forms the basis for the Scoping Study that is the subject of this announcement. Over the life of the China Pit considered in the Scoping Study, 88% of the processed Mineral Resource originates from Indicated Mineral Resources and 12% from Inferred Mineral Resources; 99.5% of the processed Mineral Resource during the payback period would be from Indicated Mineral Resources. Over the first 5 years of the mine life, 91% of the processed Suite 4, 38 Colin Street, West Perth 6005 WesternAustralia Email: [email protected] www.myanmarmetals.com.au Myanmar Metals Limited ABN 48 124 943 728 Telephone: +61 (8) 6147 8100 2 Mineral Resource would be from Indicated Mineral Resources. The viability of the development scenario envisaged in the Scoping Study therefore does not depend on Inferred Mineral Resources. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target or the financial forecasts will be realised. This Scoping Study is based on the material assumptions outlined elsewhere in this announcement (in particular, pages 23 to 26). These include assumptions about the availability of funding. While MYL considers that all the material assumptions are based on reasonable grounds, there is no certainty that they will prove to be correct or that the range of outcomes indicated by this study will be achieved. | |
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